Between 2021 and 2023, the value of Australia’s manufactured exports fell by 11%. In contrast, the global average increase in manufactured exports was 6.5% over the same period. Australia's international competitiveness index ranking also fell, dropping six places from 15th in 2021 to 21st in 2023.
Evaluate macroeconomic policies that could be used to increase international competitiveness in Australia's manufacturing export markets.
103 exam-style questions on Edexcel A A Level Economics 4.1 International economics, covering 4.1.1 Globalisation, 4.1.2 Specialisation and trade, 4.1.3 Pattern of trade, 4.1.4 Terms of trade, 4.1.5 Trading blocs and the World Trade Organisation (WTO), 4.1.6 Restrictions on free trade, 4.1.7 Balance of payments, 4.1.8 Exchange rates, and 4.1.9 International competitiveness. Each one has a worked solution and a mark scheme showing where the marks go.